SHANGHAI, May 17 (SMM) – SHFE 1607 lead will rebound to RMB 12,850-13,000/mt on May 17.
Markets expect US April housing starts and CPI to be positive, which may boost US dollar. This will depress base metals prices.
LME lead will narrowly range USD 1,720-1,740/mt during Asian trading hours Tuesday. In China’s spot market, downstream demand stays weak and smelters are active in selling, leaving supply ample. Spot lead should trade at RMB 12,800-12,950/mt today.